Best way to save up and buy a s2k
04-01-2013, 04:19 PM
#11
money's cheap these days with low interest rates. Go to the bank, find out what they'll finance you for- now you have an idea of how much you can afford. Just don't forget the incidentals.
I used my line of credit at 3% for 15K
darcy
I used my line of credit at 3% for 15K
darcy
04-01-2013, 04:31 PM
#12
If you have good credit and can get a really low interest rate I'd just finance one. I'd rather finance at a low rate then pay cash.
I just bought a daily driver few months ago. Got it for 15k. I was going to pay cash for it but with an interest rate of 2.5% on it I just put 5k down and financed the rest.
I make much more money off 10k then I would lose paying the interest over a few years.
Plus it also helps your credit out by paying a car loan off over a few years.
I just bought a daily driver few months ago. Got it for 15k. I was going to pay cash for it but with an interest rate of 2.5% on it I just put 5k down and financed the rest.
I make much more money off 10k then I would lose paying the interest over a few years.
Plus it also helps your credit out by paying a car loan off over a few years.
04-01-2013, 04:39 PM
#13
Originally Posted by Vyndictive' timestamp='1364850177' post='22443990
You're in a much stronger negotiating position with cash.
And financing a used car from a private seller can be a headache and some credit unions and banks... I've heard of some that won't do it, or make it a real hassle to do it.
My vote is save up. It'll make you appreciate it that much more, plus you only have 1 car payment!
And financing a used car from a private seller can be a headache and some credit unions and banks... I've heard of some that won't do it, or make it a real hassle to do it.
My vote is save up. It'll make you appreciate it that much more, plus you only have 1 car payment!
If you've never had an auto loan it's worth doing it for 1-2 years to build your credit. Typically most useful when going to buy a home. With rates so low most of the time your investments will more than cover the interest.
04-16-2013, 09:41 PM
#15
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No need for a rag top without a garage. By your post I'm guessing you don't have a house. Save up and buy a house first, cars are not the way to make $.
But...if you really want the S eat ramen and water until you have the $. It's worth it.
But...if you really want the S eat ramen and water until you have the $. It's worth it.
04-17-2013, 04:18 PM
#17
I was going to buy finance a 03 s2000 with 4% interest. No warranty on the car. Payments came out to 250 month. I figured that wasn't a great idea seeing as the car had no warranty. So I saved up for 1 year and bought a 03 s2k. Now if something breaks I don't have the added stress/responsibility of that car payment. As mentioned earlier, it's very rewarding paying cash for a vehicle and I appreciate the car more than when I financed my old car (genesis coupe).
04-17-2013, 04:38 PM
#18
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I saved up enough cash to buy my s2000, and then took out a loan and financed it. kind of stupid but i wanted to see if i could save money if needed to, and i didn't want to go and blow all of the money i had just saved at once because it hurts deep down inside 
my payment is only 156/month
my payment is only 156/month
04-18-2013, 08:49 AM
#20
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If I can't pay cash for a car, then I don't buy it.
I understand the argument of low interest financing, but I just don't want to make a monthly payment on a car (and I want it to be mine, not the banks).
I understand the argument of low interest financing, but I just don't want to make a monthly payment on a car (and I want it to be mine, not the banks).